ConAgra Appetizing Despite Shortfall

A hefty acquisition took a bite out of ConAgra's fiscal third-quarter results, but the maker of Swiss Miss and Healthy Choice still looks appetizing.

Before Wednesday's opening bell, ConAgra Foods (ticker: CAG) said earnings fell 57% to $120 million, or 29 cents a share, down from 67 cents a year earlier. However, the period ended Feb. 24 included 16 cents a share in costs related to its acquisition of private-label food maker...